Making sure his DBA thesis focused on a contemporary topic relevant to his professional work has certainly paid off for student Srinivas Yanamandra.
His research focused on how East Asian regulators reacted to the financial crash in the late 1990s – and helped avoid the worst of the global economic crisis a decade later in 2007.
Before embarking on his part-time DBA in 2007 Srinivas was working in India for the ICICI bank and witnessed its expansion into Europe and the Middle East as more and more Indian companies set up overseas ventures. During this time Srinivas says he became interested in the subject of regulatory compliance among Asian banks and decided to pursue doctoral research.
“I chose Manchester not just because it was number one in the FT rankings, but also because I really liked the format of the course. I really liked its flexibility and also its online learning capability which allowed me to continue with my day job back in India.”
Srinivas describes the DBA as a “fantastic experience” and says he loved the intellectual journey. “I also loved coming back to Manchester every six months because there was a very clearly defined agenda which also forced me to turn all my findings into a very concise framework. I also got to work with some excellent academics and always really enjoyed the discussions around my work.”
He says he initially planned to take up a DBA to gain an understanding of the governance, risk and compliance frameworks across all Asian financial conglomerates.
A year into the course the global financial crisis struck which enabled Srinivas to do a comparative case study of how Western governments reacted in 2008 with how East Asian governments reacted in 1997.
“What I discovered was that after 1997 the regulators in these East Asian countries very firmly took charge of their financial systems and decided it was their role to tell banks exactly how to function. These governments definitely learnt from their mistakes back in 1997 and because of this were much better equipped to withstand the forces of the global recession in 2008.”
After completing his DBA in 2013 Srinivas moved to the IDFC bank in Mumbai as the Anti-Money Laundering Compliance Officer, before being headhunted by the New Development Bank in late 2016.
“I had the opportunity to present my thesis findings to the then Chairman of the ICICI Bank, Mr. KV Kamath, who complemented me on the quality and rigor of the DBA thesis. I look forward to working with him again in his new role as the President of the New Development Bank.”
The New Development Bank was established by the BRICS nations (Brazil, Russia, India, China and South Africa) in 2015 and is headquartered in Shanghai. The bank’s primary focus of lending is infrastructure and sustained development projects.
In his new role as the Chief Compliance at the bank Srinivas is looking forward to putting into practice what he learnt from the DBA in the area of governance and compliance.